topic Re: credit useage on 3B reports $0 no matter what balance reports in Understanding FICO® Scoring

credit useage on 3B reports $0 no matter what balance reports

bourgogne — Sat, 25 Aug 2018 20:07:52 GMT

I have had smaller balances at times report 1-2%, what am I missing here? also odd that all the balances reporting are different. Thank you

Re: credit useage on 3B reports $0 no matter what balance reports

Anonymous — Sat, 25 Aug 2018 20:33:35 GMT

Is this a screenshot from some specific credit monitoring tool? If so, which CMT is it? (Credit Check Total, myFICO Ultimate, etc.)

Re: credit useage on 3B reports $0 no matter what balance reports

bourgogne — Sat, 25 Aug 2018 20:37:23 GMT

@Anonymous wrote:
Is this a screenshot from some specific credit monitoring tool? If so, which CMT is it? (Credit Check Total, myFICO Ultimate, etc.)

no, I am just getting really good with photoshop lol. yeah, Experian CreditWorks Plus.

Re: credit useage on 3B reports $0 no matter what balance reports

Anonymous — Sat, 25 Aug 2018 21:00:42 GMT

What's your total credit limit at each bureau? (Might not be the same at each if not all CCs report to each.)

Re: credit useage on 3B reports $0 no matter what balance reports

Thomas_Thumb — Sat, 25 Aug 2018 21:02:08 GMT

@bourgogne wrote:
I have had smaller balances at times report 1-2%, what am I missing here? also odd that all the balances reporting are different. Thank you

Are the dollar amounts shown above from AU cards or Charge cards? On a MYFico summary my revolving utilization was 0% when I had reported a $1997 on my AMEX charge card and my AU account reported a balance over $3000.

The zero balance was not a round down to zero situation. I had utilization listed at 1% with the AU account reporting $950 and just one of my credit cards reporting a balance under $200. So, I know MyFico rounds up. Not sure about summaries from other providers.

Re: credit useage on 3B reports $0 no matter what balance reports

Anonymous — Sat, 25 Aug 2018 21:07:14 GMT

@bourgogne wrote:
also odd that all the balances reporting are different.

It's not uncommon on any particular particular day of the month for there to be a difference on how much CC debt is being reported to each bureau. That is because, if your Chase Freedom (say) reports to the bureaus on Aug 20, then one bureau might update its database on Aug 23, another on Aug 26, and another of Aug Aug 28. When you have several cards reporting on different days it can be common for all three bureaus to have different values.

Re: credit useage on 3B reports $0 no matter what balance reports

bourgogne — Sat, 25 Aug 2018 21:24:21 GMT

guys: thank you for the responses. I lost $27K off a cap1 account and dropped my limits a bit on some others, so my consumer lines total only around $200K right now. all lines are reporting properly. 90% of the time I use biz cards which also total $200k and the consumer cards I use are only chase. all report zero but my csr. I do have a single platinum AU card which always has a low balance. more than being curious 0% cannot be good for my scores not that I care all that much. well heck, I do care, what do you think lol...

Re: credit useage on 3B reports $0 no matter what balance reports

Anonymous — Tue, 28 Aug 2018 09:07:03 GMT

You're saying you have over 200K in available credit, so those three usage amounts in your screenshot put you at under 1% utilization for each of those three bureaus. I know for a fact from my own account and oberservation that the Experian service shows zero percent for your aggregate credit usage when your util is less than 1%.

Re: credit useage on 3B reports $0 no matter what balance reports

Anonymous — Tue, 28 Aug 2018 14:18:52 GMT

This to me just looks like a classic case of pretty fluff front end monitoring software painting a different picture other than what's really going on.

Based on your high credit limits, it sounds like your utilization is coming in at less than 1% (but it's non-zero) and is being rounded down to 0% by your CMS. Any non-zero balance reported, even just $5, whether it's against $10k in credit limits or $500k in credit limits is going to be viewed as 1% utilization and scored as such under the FICO algorithm. You're at 1% reported utilization, so you're in the best place you can be.

Re: credit useage on 3B reports $0 no matter what balance reports

bourgogne — Tue, 28 Aug 2018 18:48:04 GMT

@Anonymous wrote:
This to me just looks like a classic case of pretty fluff front end monitoring software painting a different picture other than what's really going on.

Based on your high credit limits, it sounds like your utilization is coming in at less than 1% (but it's non-zero) and is being rounded down to 0% by your CMS. Any non-zero balance reported, even just $5, whether it's against $10k in credit limits or $500k in credit limits is going to be viewed as 1% utilization and scored as such under the FICO algorithm. You're at 1% reported utilization, so you're in the best place you can be.

well not anymore lol, I am leaving the country for 6 weeks in a few days so I thought I will pay down the cards, leave a bal on one, etc. of course an amazon credit came in and my scores lost ~30 pts overnight. %^&$#@. I know, does not matter, still just got off the phone with chase and they will report the bal tonight. credit is so odd sometimes. thanks for the response, I am sure its some front end issue as well